(comments: 0)
Delay of IRS Revenue Ruling 2006-57 on 132 Transportation Debit Cards
The purpose of this notice is to delay the effective date of Revenue Ruling 2006-57, 2006-47 I.R.B. 911. Revenue Ruling 2006-57 provides guidance to employers on the use of smartcards, debit or credit cards, or other electronic media to provide qualified transportation fringes under Internal Revenue Code §§ 132(a)(5) and 132(f).
Read more … Delay of IRS Revenue Ruling 2006-57 on 132 Transportation Debit Cards
(comments: 0)
Proposed Regulations Issued for Cafeteria Plans
On August 3, 2006, the U.S. Treasury Department and the Internal Revenue Service (IRS) released proposed regulations regarding cafeteria plans. These rules replace the previously-proposed and temporary regulations issued intermittently between May 1984 and March 2000.
(comments: 0)
IRS Revenue Ruling 2006-57 on 132 Transportation Debit Cards
Qualified transportation fringes; smartcards and debit cards. This ruling provides guidance to employers on the use of smartcards and debit cards to provide qualified transportation fringes under section 132(f) of the Code.
Read more … IRS Revenue Ruling 2006-57 on 132 Transportation Debit Cards